NEW DELHI: To boost electronic manufacturing in the country, the government will come out with more policy guidelines if required, telecom minister Ravi Shankar Prasad said today.

"We came with all the policies like MSIPS, differential duty structure, ease of doing business...the entire ecosystem for electronic manufacturing was to be created...if further more is needed, we are quite open to come with new policy guidelines," Prasad said while launching Make in India phones by electronics major LG here.

The government is working to make India a big hub of electronics manufacturing and is providing various incentives to companies to set up their shop here. Demand for electronic products in India is expected to reach $400 billion by 2020.

The minister said in one year down the line, he sees LG manufacturing latest smartphones in India.

"I would expect, this is just a beginning and I am deeply impressed that they will make 1 million smartphones at this facility which they have started," Prasad said.

The minister added that the government is involved in some transformational programmes like Digital India, Make in India, Skill India, Startup India, Standup India and smart cities that will change the country.

Speaking on the occasion, telecom secretary JS Deepak said India is the best place to manufacture phones and electronics in the world and in a couple of years, the production of phones is likely to reach 500 million phones a year.

Sponsored Stories

Subscribe to our Newsletters

After PSU banks, the government is likely to infuse capital in two chronically ill telecom PSUs BSNL and MTNL, and the Union Cabinet is likely to take a decision on 4G spectrum allocation to them by the third week of the current month after DoT places the note before it for consideration.

At a high-level meeting at the PMO late Tuesday, it was also decided that the two telcos will frame a Voluntary Retirement Scheme (VRS) to reduce their employee strength, which will be followed by a reduction in the retirement age to 58.